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Selling a Church Financing Business
Your church financing business has been good to you. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a church financing business.
But the good news is that there is still demand for church financing businesses that present well and offer solid earning potential.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your church financing business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your church financing business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the church financing business to gain an objective sense of fair market value.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a church financing business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Finding Prospects
Whether you know it or not, prospective buyers for your church financing business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for church financing businesses than other buyers.
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